The workers’ compensation insurance industry and SCE&G both have hearings in the coming months regarding their requests for more revenue. The South Carolina Small Business Chamber of Commerce (SCSBCC) and its president and CEO, Frank Knapp Jr., will intervene to oppose both rate hikes.
The SCSBCC is joining the S.C. Consumer Advocate’s Office in pushing back on a 7.3% average increase filed by the National Council on Compensation Insurance. The Administrative Law Court is scheduled to hear the case starting October 8, 2012. Representing SCSBCC from the Injured Workers Advocates will be Bill Smith of Chappell, Smith & Arden and Kevin Holmes of the Steinberg Law Firm.
On November 27 the S.C. Public Service Commission will begin hearing a 6.61% overall electricity rate hike being sought by SCE&G, which serves 668,000 residential and commercial customers in South Carolina.
“SCE&G’s parent company, SCANA, saw its earnings increase by 29% in the second quarter of this year,” said Mr. Knapp. “In addition the company is justifying its request by saying it needs a return on equity almost 0.5% higher than the current rate for Duke Energy. Small businesses simply want to tell SCE&G “NO”. Fortunately I will have that opportunity.”